WCOB.L vs. IJPN.L
WCOB.L (WisdomTree Enhanced Commodity UCITS ETF USD Acc) and IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) are both exchange-traded funds - WCOB.L is a Commodities fund tracking the Optimised Roll Commodity, while IJPN.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 5 years, WCOB.L returned 12.74%/yr vs 10.52%/yr for IJPN.L. At a 0.11 correlation, their price movements are largely independent. WCOB.L charges 0.35%/yr vs 0.59%/yr for IJPN.L.
Performance
WCOB.L vs. IJPN.L - Performance Comparison
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Returns By Period
In the year-to-date period, WCOB.L achieves a 31.29% return, which is significantly higher than IJPN.L's 16.83% return.
WCOB.L
- 1D
- -1.15%
- 1M
- 0.76%
- YTD
- 31.29%
- 6M
- 30.72%
- 1Y
- 44.44%
- 3Y*
- 13.21%
- 5Y*
- 12.74%
- 10Y*
- —
IJPN.L
- 1D
- -0.35%
- 1M
- 3.86%
- YTD
- 16.83%
- 6M
- 16.00%
- 1Y
- 36.20%
- 3Y*
- 16.17%
- 5Y*
- 10.52%
- 10Y*
- 10.48%
WCOB.L vs. IJPN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 31.29% | 7.73% | 4.50% | -12.06% | 25.92% | 28.89% | -3.11% | 3.86% | -3.43% | -3.53% |
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 16.83% | 18.18% | 9.39% | 14.03% | -7.13% | 2.20% | 12.46% | 14.55% | -8.45% | 6.78% |
Correlation
The correlation between WCOB.L and IJPN.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2017 | 0.11 |
The correlation between WCOB.L and IJPN.L shifts across timeframes, from -0.17 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WCOB.L vs. IJPN.L — Risk / Return Rank
WCOB.L
IJPN.L
WCOB.L vs. IJPN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| WCOB.L | IJPN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.36 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 6.47 | 3.22 | +3.25 |
| Martin ratioReturn relative to average drawdown | 16.38 | 10.52 | +5.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WCOB.L | IJPN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 1.88 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.66 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.42 | +0.24 |
Drawdowns
WCOB.L vs. IJPN.L - Drawdown Comparison
The maximum WCOB.L drawdown since its inception was -27.14%, smaller than the maximum IJPN.L drawdown of -39.73%. Use the drawdown chart below to compare losses from any high point for WCOB.L and IJPN.L.
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Drawdown Indicators
| WCOB.L | IJPN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.14% | -39.73% | +12.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.98% | -10.80% | +3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.74% | -14.09% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -27.14% | -18.57% | -8.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.34% | — |
Current DrawdownCurrent decline from peak | -3.72% | -0.35% | -3.37% |
Average DrawdownAverage peak-to-trough decline | -11.70% | -10.09% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.32% | -0.56% |
Volatility
WCOB.L vs. IJPN.L - Volatility Comparison
WisdomTree Enhanced Commodity UCITS ETF USD Acc (WCOB.L) has a higher volatility of 5.81% compared to iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) at 3.88%. This indicates that WCOB.L's price experiences larger fluctuations and is considered to be riskier than IJPN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCOB.L | IJPN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 3.88% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.36% | 15.00% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.59% | 18.54% | -0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.37% | 15.88% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 15.98% | -0.08% |
WCOB.L vs. IJPN.L - Expense Ratio Comparison
WCOB.L has a 0.35% expense ratio, which is lower than IJPN.L's 0.59% expense ratio.
Dividends
WCOB.L vs. IJPN.L - Dividend Comparison
WCOB.L has not paid dividends to shareholders, while IJPN.L's dividend yield for the trailing twelve months is around 2.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 2.03% | 2.25% | 1.95% | 1.81% | 2.10% | 1.66% | 1.75% | 1.90% | 1.89% | 1.53% | 1.55% | 0.87% |
WCOB.L WisdomTree Enhanced Commodity UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WCOB.L and IJPN.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WCOB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WCOB.L is cheaper with a 0.35% expense ratio, compared with 0.59% for IJPN.L.
WCOB.L is categorized as Commodities, while IJPN.L is Japan Equities. WCOB.L tracks Optimised Roll Commodity, while IJPN.L tracks TOPIX TR JPY. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.35% for WCOB.L and 0.59% for IJPN.L.
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